MFAA Reverse Mortgage
The module aims to assist market practitioners to understand how a reverse mortgage (or equity release) product operates, identify prospective customers, gain an appreciation of a customer’s financial situation, clarify a broker’s disclosure and other obligations and reliably explain how particular individuals may benefit from a reverse mortgage.
On completion of the module, you should be able to:
- describe the equity release marketplace in Australia
- understand the key features of a reverse mortgage
- identify potential customers who may benefit from using a reverse mortgage
- list the typical borrower expectations of the reverse mortgage product and identify their decision making preferences
- outline the fundamental reverse mortgage characteristics the customer should consider
- calculate the key transaction costs
- appreciate the standard of conduct required when presenting the reverse mortgage product to customer
- know relevant disclosure and other obligations
- understand the regulatory framework that applies to reverse mortgages
*Please contact your aggregator for a list of lenders that accept the MFAA Reverse Mortgage Certificate.
*Please contact lender for accreditation requirements needed, see list of Reverse Mortgage lenders below.
- Bankwest Seniors Equity Release Home Loan – 131 718
- Commonwealth Bank Equity Unlock for Seniors – 132 221
- Bank SA Seniors Access Home Loans - 131 376
- P&N Bank Easy Living Home Loan – 132 577
- My Life Insurance Annuity Plus - Website link
- Heartland Seniors Finance - Website link
Important: By enrolling in this course you agree to complete the course within 90 days from the date of purchase. If you do not complete the course within this timeframe your enrolment will automatically expire. If you wish to complete the course you must repurchase and start the course from the beginning.
Cancellation Policy: Please view the MFAA cancellation policy here